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Daily Forex Market by FXCC 13Feb2012

Discussion in 'Market Predictions and Reports' started by alayoua, Feb 13, 2012.

  1. alayoua

    alayoua Banned

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    Daily Forex Market by FXCC 13Feb2012

    EUR/USD spikes as Greek Parliament began counting 'austerity deal' votes
    The euro rose 0.3 percent to $1.3239 as of 8:00 a.m. in Tokyo from last week's close in New York. The shared common currency gained 0.4 percent to 102.81 yen. The dollar fetched 77.66 yen from 77.61. USD/JPY opened the Asian session with a downside gap open of 77.54 on Monday, but then climbed to an early high of 77.66, recovering the early gap and Friday’s modest losses. EURUSD spiked over 40/45 pips as retail platforms opened, short covering squeeze then intensified. EUR/USD had opened the Asian session just above 1.3200, up from 1.3171 late Friday, the paring is edging higher into the 1.3230 area, resistance at 1.3258 (Nov low), support at 1.3197 (Dec high).
    Read More

    2012-02-13 00:30 GMT | Australia Home Loans (Dec)
    2012-02-13 07:00 GMT | Germany Wholesale Price Index (MoM) (Jan)
    2012-02-13 07:00 GMT | Germany Wholesale Price Index (YoY) (Jan)
    2012-02-13 08:15 GMT | Switzerland Producer and Import Prices (MoM) (Jan)


    2012-02-13 05:59 GMT | USD/JPY rangebound around 77.60 ahead of Europe
    2012-02-13 03:54 GMT | GBP/USD still bid amid CBI outlook
    2012-02-13 01:07 GMT | EUR/USD retreats after run to 1.3260
    2012-02-13 00:30 GMT | Australia Home Loans 2.3% in Dec

    --------------
    EURUSD : 1.32728 / 1.32731
    DAILY WEEKLY MONTHLY
    High: 1.3276 | Low: 1.31987 | Chg: 0.0077 0.58%

    [​IMG]

    1.3394 | 1.3367 | 1.3322 | 1.3285
    1.3206 | 1.3153 | 1.3096 | 1.3026

    SUMMARY : up
    TREND up : trend
    MA10 : Bullish
    MA20 : bullish
    STOCHASTIC : overbought


    MARKET ANALYSIS - Intraday Analysis

    The EURUSD fell and formed a bottom at 1.3153 (S2) after which the price rebounded and was able to break above Friday’s support at 1.3206 and it seems it will soon re-test a high at 1.3322. A break above the first resistance level of 1.3285 (R1) would suggest a target of 1.3322 (R2). If the price holds its momentum on the upside we can expect a further rise towards 1.3367 (R3). On the other hand, if the price does not manage to break above 1.3222 (R2) we can expect the pair to retest support at 1.3153 (S2) and a further fall will be limited to 1.3096 (S3).

    --------------
    GBPUSD : 1.58145 / 1.58157
    DAILY WEEKLY MONTHLY
    High: 1.58168 | Low: 1.57581 | Chg: 0.0062 0.39%

    [​IMG]

    1.5961 | 1.5929 | 1.5885 | 1.5848
    1.5757 | 1.5729 | 1.5700 | 1.5665

    SUMMARY : Down
    TREND down : trend
    MA10 : Bullish
    MA20 : bullish
    STOCHASTIC : neutral


    MARKET ANALYSIS - Intraday Analysis

    GBPUSD is forming lower tops, as it fell for 3 consecutive days after forming a high at 1.5929 (R3), and formed a strong support level at 1.5729 (S2). Following that we saw a correction towards 1.5799 and it seems the pair will re-test our support levels soon. A break below 1.5757 (S1) would suggest a target of 1.5729 (S2) and a further fall will then focus on the next target at 1.5700 (S3) a technical and psychological level. On the upside, if the price rebounds from the first support level we can expect retesting at 1.5848 (S2). A further rise will then bring focus to the next resistance level at 1.5885 (R2).

    -------------
    USDJPY : 77.688 / 77.691
    DAILY WEEKLY MONTHLY
    High: 77.779 | Low: 77.532 | Chg: 0.066 0.09%

    [​IMG]

    78.98 | 78.67 | 78.28 | 77.80
    77.25 | 76.83 | 76.49 | 76.25

    SUMMARY : up
    TREND : up trend
    MA10 : Bullish
    MA20 : neutral
    STOCHASTIC : neutral


    MARKET ANALYSIS - Intraday Analysis

    USDJPY gained momentum and formed higher bottoms and is now moving towards 77.80 (R1) a technical and psychological resistance level for the bulls. If the pair breaks above that level, can expect the price to retest 78.28 (R2). Be on the alert for a correction downwards towards 77.25 (S1) and then a continuation to an upward move. We believe that the bullish pressure will continue. Look for long positions in today's trading session.

    Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
    URL: https://support.fxcc.com/email/technical/13022012
     

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